Is Crete, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Crete is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Crete has remained a Seller's Market.

Key Takeaway

Crete is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Crete, IL

How much do homes in Crete, IL cost?

Median Sold Price

$265,000

$131/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$5,100(+2.0%)

Key Takeaway

Homes in Crete have sold for 2% more than they did a year ago.

Summary: The median home sold price in Crete was $265,000 in May 2024, up 2% from last year, and the median price per square foot was $131.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $110K-
N/A
2 $150K$173.9K
+15.9%
3 $250K$251K
0.4%
4 $285K$326.7K
+14.6%
5+ $310.9K$394K
+26.7%

Summary: Crete housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.9%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 26.7%.

Median Sold Price Compared To Nearby Cities

Crete Township
+12.8%
Steger
+7.8%
Sauk Village
+3.4%
Crete
+2.0%
University Park
0.0%

Housing Supply in Crete, IL

How many homes are available in Crete, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7797+26.0%

Summary: The Crete real estate market had 97 homes for sale in May 2024, a 26.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 710
+42.9%
3 4148
+17.1%
4 2332
+39.1%
5+ 67
+16.7%

Summary: The Crete housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 42.9%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 39.1%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1219+58.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Crete, you could pay more than the asking price. 52.6% of homes here sold above asking price last month.

Summary: A total of 19 homes were sold or pending in Crete in May 2024, up by 58.3% month-over-month. Of the 19 sold homes, 32% were sold under asking, 16% were sold at asking, and 53% were sold over asking.

Days on Market for Crete, IL

How long does it take to sell a home in Crete, IL?

Average Sale Time

May 2023May 2024CHANGE
26 Days17 Days-35.1%

Summary: Homes in Crete had an average of 17 days on market in May 2024, down by 35.1% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Crete are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 19 homes were sold in Crete; 74% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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